FirstHoldCo Plc Promises Higher Dividends Going Forward

FirstHoldCo Plc has restated its commitment to higher dividends payment for shareholders at the conclusion of the 2025 financial year.

The company made the commitment at its 13th Annual General Meeting (AGM) held in Lagos today.

However, it approved a dividend of 60 kobo per 50 kobo ordinary share, amounting to N25.13 billion in total, perceived as proof of its commitment to bettering the lot of its shareholders.

Chairman of FirstHoldCo, Femi Otedola, appealing to shareholders’ sentiments, assured them of FirstHoldCo Plc prioritisng improved dividends once the company meets the statutory N500 billion capitalisation requirement.

Said Otedola:  “We thank God for his grace, and I want to assure you that I, too, as a shareholder, I am not going to accept a 60 kobo dividend. I will not, considering how much I’ve invested in this institution.

“I want you to be patient. God’s time is the best.”

According to him, “After we have completed the private placement, which we are embarking on in another two weeks, I would have invested over N300 billion into this institution.

“Most of you shareholders, I know very well, we’ve been on this journey since the days of African Petroleum, 2007. So it’s been a long way.”

Otedola also credited President Bola Tinubu’s and the Central Bank of Nigeria (CBN)’s economic reforms for the N320 billion personal investment in First Bank.

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FirstHoldCo Group Managing Director (GMD), Wale Oyedeji, reiterating the optimism of the management, stated:

“By the end of this year, we would have completed our capital raise. Our chairman and major shareholder has also given us comfort that we will meet the N500 billion capital requirement for the bank in the next few weeks”.

FirstHoldCo Plc, ended the financial year 31 December 2024 posting some impressive results.

Its audited result shows increase in Gross earnings increase, reaching N3.212 trillion, which is a a 105.71% year-on-year improvement.

Amongst others, It earned N625.281 billion in interest income, a 40.15% increase compared to N446.146 billion recorded in Q1 2024.